The Daily Parker

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Have a Zima with your Zestimate

On Tuesday, a Federal judge in Chicago dismissed with prejudice a case against Zillow that alleged its "Zestimates" made houses harder to sell:

In the suit, first filed in May, Glenview homeowner and attorney Barbara Andersen alleged that the estimates Zillow posts with for-sale listings essentially act like an appraisal of exact market value. Under Illinois law, only licensed appraisers can issue an appraisal. Andersen's suit alleges Zillow is engaging in illegal practices.

Not so, U.S. District Judge Amy St. Eve wrote in her dismissal. "The word 'Zestimate'—an obvious portmanteau of 'Zillow' and 'estimate'—itself indicates that Zestimates are merely an estimate of the market value of the property," St. Eve wrote.

"We always say that the Zestimate isn't an appraisal," [Zillow's] Emily Heffter told Crain's earlier this year. "It's a starting point that people can use when they're working with a professional appraiser or a professional agent to determine the home's value."

St. Eve also wrote that Zillow's estimates do not constitute an invasion of privacy because they are based on public records, with additions submitted by the homeowners if they choose to.

It zeems obvious, when you think about it.

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